European regulatory proposals may restrict user access to DeFi, Aave founder Stani Kulechov criticizes

Odaily Planet Daily News Stani Kulechov wrote that he was disappointed with the response of the European Central Bank and the European Banking Authority to the MiCA consultation. Related proposals advocate banning stablecoin payments for income, and recommend restricting crypto asset service providers from providing DeFi access channels to users, limiting the user groups that can access DeFi through "appropriateness testing", and also considering implementing a certification system for DeFi lending protocols, but the actual implementation framework is not clearly stated. Stani believes that having regulators decide which protocols are suitable for European users may lead to a more closed ecosystem, weakening the liquidity and network effects of open financial networks; excessive restrictions may also increase resistance to innovation. He said that stablecoins, DeFi and tokenized securities are expected to reduce financial service friction, increase transparency and expand users' access to financial services, and called on European regulators to put users and their interests at the core of the regulatory framework, saying "DeFi will eventually win."